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KOREA ELECTRIC POWER CORP (KEP) financial health, profit and balance sheet · Scorvest

KEP · NYSE · United States · Electric Services

KOREA ELECTRIC POWER CORP

Naju-Si · Fiscal year ends in December · Figures in KRW

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In shortKOREA ELECTRIC POWER CORP is profitable, generates cash and carries moderate debt, with revenue growing (+5.8% last year).

Financial health

Mixed

Built from five areas over the last five annual reports. Tap an area to see the figures behind it.

How is this score calculated? →

Profitability48

Operating marginShare of each sale left after running the business, before interest and tax.	9.1%	47/100
Net marginShare of each sale left as profit after every cost, interest and tax.	3.8%	35/100
Return on equityProfit earned on the money shareholders put in. Above 15% is strong.	9.2%	46/100
Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge.	9.6%	64/100

Weight in the score: 25%

Balance sheet35

Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash.	0.46×	0/100
Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted.	0.52×	82/100
Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable.	0.81×	91/100
Interest coverageHow many times operating profit covers interest. Below 2 is risky.	1.12×	0/100
Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress.	-0.22	0/100

Weight in the score: 25%

Cash generation25

Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt.	1.8%	27/100
Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy.	0.48×	22/100
Years with positive free cash flow (last 5)	2 of 5	25/100

Weight in the score: 20%

Stability45
Profitable years (last 5) 2 of 5 40/100
Years of revenue decline (last 5) 1 of 5 67/100
Revenue growth volatility 10.4% 73/100
Operating margin volatility 22.1% 0/100
Weight in the score: 20%
Growth100
Revenue growth, 3-year average 15.5% 100/100
EPS growth, 3-year average – n/a
Weight in the score: 10%

Profitable years (last 5)	2 of 5	40/100
Years of revenue decline (last 5)	1 of 5	67/100
Revenue growth volatility	10.4%	73/100
Operating margin volatility	22.1%	0/100

Revenue growth, 3-year average	15.5%	100/100
EPS growth, 3-year average	–	n/a

Fiscal year 2024 · change vs prior year

Revenue: KRW 92.6T; ▲ 5.8%
Net income: KRW 3.5T; ▲ 172.4%
Free cash flow: KRW 1.7T; ▲ 113.4%
Operating margin: 9.1%; +14.0 pts
Cash & investments: KRW 2.4T; –
Total debt: KRW 20.7T; ▲ 4.1%
Diluted EPS: KRW5,439.00; ▲ 172.4%
Return on equity: 9.2%; –

Trends

Annual figures as reported. Hover a bar or point for the exact value.

5 older years available with the 10-year history. Essential plan, from €8.25/month →

Revenue and net income

RevenueNet income

Margins

Statements

The last 5 fiscal years from the company's annual reports.

KRW millions; negative values in parentheses.

Fiscal year	FY20	FY21	FY22	FY23	FY24
Revenue	57,926,634	60,012,375	70,546,024	87,476,410	92,578,265
Cost of revenue	51,804,179	63,644,290	100,903,594	89,699,527	81,964,160
Gross profit	6,122,455	(3,631,915)	(30,357,570)	(2,223,117)	10,614,105
Research & development	700,642	689,397	727,810	717,561	773,931
Selling, general & admin	2,678,443	2,875,796	3,009,422	3,061,582	3,070,026
Operating income	4,097,834	(5,722,991)	(32,240,531)	(4,245,016)	8,461,260
Interest expense	2,896,443	3,245,777	4,746,791	5,347,018	7,535,228
Pre-tax income	2,992,747	(7,071,570)	(33,843,619)	(7,553,977)	5,256,529
Income tax	899,064	(1,855,989)	(9,414,511)	(2,837,833)	1,634,561
Net income	1,992,077	(5,304,522)	(24,466,853)	(4,822,549)	3,491,698
Diluted EPS	KRW3,102.00	−KRW8,263.00	−KRW38,112.00	−KRW7,512.00	KRW5,439.00
Diluted shares (millions)	642	642	642	642	642

5 older years available with the 10-year history. Essential plan, from €8.25/month →

Risk checks

Altman Z'' score

−0.22 Distress zone

Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.

Piotroski F-score

8/9

Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.

Positive net income: passed
Positive operating cash flow: passed
Return on assets improved: passed
Cash flow exceeds net income: passed
Long-term debt ratio fell: passed
Current ratio improved: failed
No share dilution: passed
Gross margin improved: passed
Asset turnover improved: passed

Sources

20-FPeriod ending Dec 31, 2025Filed Apr 29, 2026Open the report ↗
20-FPeriod ending Dec 31, 2024Filed Apr 28, 2025Open the report ↗
20-FPeriod ending Dec 31, 2023Filed Apr 30, 2024Open the report ↗
20-FPeriod ending Dec 31, 2022Filed Apr 28, 2023Open the report ↗
20-FPeriod ending Dec 31, 2021Filed Apr 29, 2022Open the report ↗
20-FPeriod ending Dec 31, 2020Filed Apr 30, 2021Open the report ↗
20-FPeriod ending Dec 31, 2019Filed Apr 29, 2020Open the report ↗
20-FPeriod ending Dec 31, 2018Filed Apr 30, 2019Open the report ↗